Raw materials may spark Greece's economic comeback

Once an endangered industry, mining is roaring back as a paradigm of competitiveness, innovation and productivity, as Greece begins to supply some of Europe’s critical and rare metals

A truck empties Greek bauxite for processing at Aluminium of Greece near Distomo, in the foothills of Mount Parnassos (Photo John T Psaropoulos)

As the Greek economy attempts to restore competitiveness and attract investment, the mining industry is reviving itself as an unlikely champion of this new economy. Not only is it achieving both those goals; it is also putting Greece on the European map as a provider of strategic autonomy in important metals.

When prime minister Kyriakos Mitsotakis came to power in July 2019, he vowed to pull three high-profile investments out of the proverbial mud of state bureaucracy, to signal to investors that Greece was open for business.